CSN Mineração, the iron ore mining arm of the Brazilian steel producer CSN, and Japan’s Itochu Corporation, have closed a deal in which the miner will export 6 million mt per year of the pellet feed grade product to Itochu.
The deal is part of a wider agreement, where a $1.4 billion loan will be granted to CSN Mineração by different financial institutions in Japan. The shipments are scheduled to start in 2026 and should last until 2054.
With the proceeds of the loan, CSN Mineração will increase the production of the Casa de Pedra mine to 33 million mt of iron ore per year, in a project that includes a plant to improve the quality of the pellet feed ore.